Fiserv (NYSE:FI) Price Target Raised to $231.00 at The Goldman Sachs Group

Fiserv (NYSE:FI) had its price objective increased by The Goldman Sachs Group from $208.00 to $231.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup upped their price target on shares of Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. Mizuho increased their target price on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. BTIG Research assumed coverage on Fiserv in a report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.25.

Fiserv Trading Down 1.4 %

Shares of FI opened at $215.38 on Tuesday. Fiserv has a fifty-two week low of $129.60 and a fifty-two week high of $223.23. The company has a market capitalization of $122.53 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. The stock has a fifty day moving average of $201.79 and a two-hundred day moving average of $174.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 earnings per share. As a group, analysts forecast that Fiserv will post 8.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now directly owns 76,180 shares in the company, valued at $15,386,074.60. This trade represents a 34.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,821 shares of company stock worth $44,299,745. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sanders Capital LLC purchased a new position in shares of Fiserv in the third quarter worth approximately $764,543,000. FMR LLC grew its position in Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Maj Invest Holding A S acquired a new stake in Fiserv during the 3rd quarter valued at $172,993,000. Manning & Napier Advisors LLC purchased a new stake in shares of Fiserv in the second quarter valued at $105,031,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after buying an additional 561,377 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.